2023 Real Estate Observations (Burlington: foreclosure, rental, eviction)

[massnative71]

Originally Posted by MikePRU

Just FYI it's illegal to deny someone tenancy based on them being Section 8. So, you just incriminated yourself on the internet.

I don't "deny" anybody, I "choose others".

[newenglandgal123]

Looks like MA just made another 'best' list. Now all those folks w/families or planning families on the fence about which state they should plant roots will for sure just have to buy a home here.

https://www.cbsnews.com/boston/news/...amily-ranking/

[porterhouse]

Originally Posted by newenglandgal123

Looks like MA just made another 'best' list. Now all those folks w/families or planning families on the fence about which state they should plant roots will for sure just have to buy a home here.

https://www.cbsnews.com/boston/news/...amily-ranking/

These lists and a Charlie card will get you a ride on the T.

[MikePRU]

Originally Posted by massnative71

I don't "deny" anybody, I "choose others".

Po-tay-to po-tah-to my friend.

I'm not saying this doesn't happen all the time but turning down an application based solely on the fact that the tenant is in the section 8 program is illegal. Saying you do such things on the internet where nothing you say ever really goes away is probably not a great idea.

[matrix5k]

I didn't realize so many people were landlords. Where is a good place to invest?

[id77]

Originally Posted by matrix5k

I didn't realize so many people were landlords.

If it includes people who bought a place and are renting out a bedroom or two to roommates to help offset the cost, it's a big list.

Probably doesn't help that there's half a million social media hack channels out there espousing the wealth one can obtain with ease by buying property and renting it out. It's the popular get-rich-quick fad these days, along with being an online scalper...er, reseller.

[massnative71]

Originally Posted by MikePRU

Po-tay-to po-tah-to my friend.

I'm not saying this doesn't happen all the time but turning down an application based solely on the fact that the tenant is in the section 8 program is illegal. Saying you do such things on the internet where nothing you say ever really goes away is probably not a great idea.

WOW take a step back there...


You likewise probably shouldn't be making baseless accusations against others of illegal activity. I am plenty well versed in the laws and what I can and cannot do. It is my RIGHT as well as moral responsibility to protect my own property as well as my neighbors', in selecting the tenants I see as most appropriate. I promise you sir, that I have never partaken in discrimination of any kind. And when I finally do sell, I will do everything in my power to keep some scumbag investor from getting his/her hands on it (who will likely rent to other scum).

[matrix5k]

Originally Posted by id77

If it includes people who bought a place and are renting out a bedroom or two to roommates to help offset the cost, it's a big list.

Probably doesn't help that there's half a million social media hack channels out there espousing the wealth one can obtain with ease by buying property and renting it out. It's the popular get-rich-quick fad these days, along with being an online scalper...er, reseller.

Being a landlord is a get rich quick fad? Seems like it's the slowest way to build wealth. Doesn't it take years to save up a down payment for a property, then years to break even on your investment? People who want to get rich quick buy stocks/options and crypto.

[brightdoglover]

Originally Posted by massnative71

And I'm sure that "reasonable amount for a working person" is higher than it would be without having to compete with that guaranteed monthly payment from the state/feds. But yeah I won't rent to Section 8 either, just not worth it.

No. It was $200 less than the Section 8 amount. Like you, she also decided not to rent to Section 8 (a two-family where she lived downstairs).

[id77]

Originally Posted by matrix5k

Being a landlord is a get rich quick fad? Seems like it's the slowest way to build wealth. Doesn't it take years to save up a down payment for a property, then years to break even on your investment? People who want to get rich quick buy stocks/options and crypto.

Many of the channels target the same people and position real estate as the third option along with stocks and crypto, though they also like to emphasize that their real estate scheme requires very little capital outlay.

They lure people in by saying things like you can finance with little to no down and rent it out for more than the cost of the mortgage; you basically are putting the bank's money to work generating your positive cash flow! Obviously, the part they don't mention so much is that it's a giant house of cards and as soon as you can't rent/your cash flow goes negative, your debts snowball and destroy your financial future.